Why Your Procurement Data is Bad

Point of View on Procurement Data

In a world where Spend Visibility is a basic requirement for even average procurement performance, why is procurement data so terrible? After spending millions of dollars on technology, from ERP systems to Procure-to-Pay (“P2P”) platforms, why do many procurement organizations struggle to achieve Spend Visibility to identify savings opportunities? And why, after gaining a degree of clarity through painful, heavily manual, one-off data cleansing work, are they forced to launch freshly sourced contracts “into the ether” and hope they have strong compliance?